17Certain moneys to be paid to Employees Reserve Account

17 Certain moneys to be paid to Employees Reserve Account

17 Certain moneys to be paid to Employees Reserve Account

Where a contributor attains the age of sixty years and the Board is of the opinion that the contributions made or to be made by him would, but for this section, entitle him, if he became eligible for a lump sum benefit, to receive amounts referred to in section 26 (1) (b) that would exceed the amount of the maximum benefit for the contributor at that age, an amount equal to the excess shall be paid to the credit of the contributor as if the contributor had paid it pursuant to section 24 (1) (b).

s 17: Am 1973 No 43, Sch 1.